Mobile Streams PLC - London-based mobile content provider - Raises GBP114,756 through a retail and subscription offer. The gross proceeds stem from the issue of 116.0 million offer shares and 75.3 million subscription shares. The offer price of 0.06 pence represents a 14% premium to Mobile Streams' closing mid-market price on Monday of around 0.05 pence. Application for the new shares to be admitted to trading on AIM has been made, and these are expected to become effective on January 15.
On Tuesday, the company launched a placing and retail offer to raise up to USD300,000 to both provide working capital and support the expansion of its operations in Mexico. The company's Mexican subsidiary Mobile Streams of Mexico Sde RI intends to buy a 10% stake in Capital Media Sports, part of Capital Media Group Ltd, which is one of the "largest media publishers in Mexico".
Current stock price: 0.06 pence, down 4.7% in London on Friday.
12-month change: down 56%
By Hugh Cameron, Alliance News reporter
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Mobile Streams (MOS)